1 The following budget information relates to Kholson Ltd. for the three months to 31 March 2021: 1. 2 Kholson Ltd. Budgeted Profit and Loss Acocunt For the Period Ending January, February and March 2021 Month January February March $000 $000 $000 Sales (all on credit) 2,000 3,000 2.500 Cost of goods sold (COGS) 1,200 1,800 1,500 Gross Profit 800 1,200 1,000 Depreciation (100) (100) (100) Other expenses (450) (500) (600) Net profit 250 600 300 Kholson Ltd. Budgeted Balance Sheet For the Periods Ended December, January, February and March 2021 Budgeted Balances December $000 January February March $000 $000 $000 Current assets: Stocks 100 120 150 150 Debtors 200 300 350 400 Short-term investments 60 40 30 Current liabilities: Trade creditors 110 180 160 Other creditors 50 50 550 150 50 Taxation Dividends 150 200 Additional Information: 3. Capital expenditure to be incurred on 22 February 2021 is expected to amount to $470,000. 4. Sales of plant and equipment on 13 March 2021 are expected to rise to $30,000 in cash. 5. The cash at the bank in hand on January 1, 2021, is expected to be $15,000. Required: Prepare Kholson Ltd.'s cash budget for each of the three months during the quarter ending 31 March 2021